🌋♨️HYPE Weakens, Approaches Key Support Area🧭
☕️Following the circulating unstaking news, the price of HYPE has shown weakness and is now approaching a crucial support area around US$30. This pressure is further intensified by the crypto market also being in a phase of high uncertainty.
☕️AI analysis on CoinMarketCap indicates that HYPE is currently in a bearish breakdown pattern after closing below important moving averages. The price is below the 7-day SMA of US$36.63 and the 200-day EMA at US$38.78, signaling a loss of upward momentum.
☕️The MACD indicator also confirms accelerating bearish momentum, with the histogram at -0.71759. If HYPE remains below US$35.50 in the coming days, the potential for a death cross between the 50-day and 200-day MAs increases and could prolong the selling pressure.